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You searched for: Content Type Policy Brief Remove constraint Content Type: Policy Brief Publishing Institution East-West Center Remove constraint Publishing Institution: East-West Center Political Geography Israel Remove constraint Political Geography: Israel Topic International Trade and Finance Remove constraint Topic: International Trade and Finance
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  • Author: Peter A. Petri
  • Publication Date: 10-2008
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: East Asian trade agreements are often described as a complicated "noodle bowl," which shows links in the region as a snarled, overlapping and intertwined mass. But this is a misleading representation--Asia's regional agreements may in fact be creating an order of a different sort, building the foundations for a stronger regional trading system. Asian trade arrangements can be more constructively seen in terms of a trade agreements matrix, in which multiple negotiations produce an orderly progression of agreements to liberalize all potential bilateral relationships and move the region toward a coherent system of freer trade. The various approaches to deeper economic integration--regional arrangements, trans-Pacific agreements, and global engagement--are complementary paths that should eventually lead to an open global trading system. East Asia is of growing importance in the global marketplace, and adopting an aggressive multitrack strategy--as the region appears to be doing--may be the fastest route toward a new global framework.
  • Topic: International Trade and Finance, Treaties and Agreements
  • Political Geography: Israel, Asia
  • Author: Jennifer Amyx
  • Publication Date: 02-2005
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: Regional financial cooperation in East Asia is proceeding with unprecedented intensity. Latest developments include two Asian Bond Funds, created by the regional central bankers group, and an Asian Bond Markets Initiative launched by the finance ministers of the Association of South East Asian Nations member states plus China, Japan, and South Korea (or ASEAN+3). Some observers continue to attribute such cooperation to sharpened antagonism between East Asia and the West since the Asian financial crisis of 1997–98. But this view overlooks a key internal driver: ChinaÂ's shift to a more proactive stance toward regional cooperation. Far from demonstrating an antagonism toward market-based financial systems, ASEAN+3 members are embracing more liberal rules for economic interaction in their creation of regional bond funds and markets. Financial cooperation in East Asia is today motivated by factors that differ considerably from those observed in the immediate aftermath of the Asian financial crisis—and the implications extend beyond East Asia.
  • Topic: International Relations, International Trade and Finance, Regional Cooperation
  • Political Geography: Israel
  • Author: Ilan Noy
  • Publication Date: 11-2005
  • Content Type: Policy Brief
  • Institution: East-West Center
  • Abstract: The banking crises that swept through East Asia in 1997– 1998 set off dramatic recessions in the affected countries and imposed heavy costs on the domestic taxpayers. Fear of further crises prompted searches causes and early warning signs. It soon became apparent that liberalization the domestic financial sectors of the countries in crises contributed to genesis of these crises, but policymakers, regulators, and economists disagree about the reason for this. Initial scrutiny fell on unregulated international capital flows, but a comprehensive study suggests that liberalization can to financial instability either because of insufficient regulation of the financial sector or because of erosion of previously granted monopolies of existing banks. These possibilities suggest varying policy implications for the current state domestic financial systems in East Asia, including the challenges inherent opening up ChinaÂ's banking system to foreign competition as mandated in China–World Trade Organization accession agreement.
  • Topic: Economics, International Trade and Finance
  • Political Geography: Israel, Asia